Bank Pictet & Cie Europe AG Lowers Stock Position in Broadcom Inc. $AVGO

Key Points

• Bank Pictet & Cie Europe AG has reduced its position in Broadcom Inc. by 25.1%, selling 56,170 shares and holding a total of 167,426 shares valued at approximately $46 million.
• Multiple analysts have raised their price targets for Broadcom, with Barclays increasing its target to $400.00 and maintaining an "overweight" rating.
• The CFO and a director of Broadcom recently sold a significant number of shares, indicating insider selling activity as they sold amounts valued over $127 million combined.

Bank Pictet & Cie Europe AG lowered its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 25.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 167,426 shares of the semiconductor manufacturer's stock after selling 56,170 shares during the quarter. Bank Pictet & Cie Europe AG's holdings in Broadcom were worth $46,151,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Old North State Wealth Management LLC lifted its position in Broadcom by 27.2% during the second quarter. Old North State Wealth Management LLC now owns 1,792 shares of the semiconductor manufacturer's stock valued at $496,000 after buying an additional 383 shares during the period. Kerntke Otto McGlone Wealth Management Group lifted its position in Broadcom by 22.6% during the second quarter. Kerntke Otto McGlone Wealth Management Group now owns 2,037 shares of the semiconductor manufacturer's stock valued at $561,000 after buying an additional 375 shares during the period. Kingsman Wealth Management Inc. lifted its position in Broadcom by 63.6% during the second quarter. Kingsman Wealth Management Inc. now owns 3,370 shares of the semiconductor manufacturer's stock valued at $929,000 after buying an additional 1,310 shares during the period. AAFMAA Wealth Management & Trust LLC lifted its position in Broadcom by 2.6% during the second quarter. AAFMAA Wealth Management & Trust LLC now owns 15,211 shares of the semiconductor manufacturer's stock valued at $4,193,000 after buying an additional 383 shares during the period. Finally, Register Financial Advisors LLC lifted its position in Broadcom by 156.5% during the second quarter. Register Financial Advisors LLC now owns 9,458 shares of the semiconductor manufacturer's stock valued at $2,607,000 after buying an additional 5,770 shares during the period. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on AVGO shares. Barclays raised their price objective on Broadcom from $265.00 to $400.00 and gave the company an "overweight" rating in a research report on Friday, September 5th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $340.00 price target on shares of Broadcom in a research report on Wednesday, August 13th. Susquehanna lifted their price target on Broadcom from $280.00 to $300.00 and gave the stock a "positive" rating in a research report on Friday, June 6th. Piper Sandler lifted their price target on Broadcom from $315.00 to $375.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. Finally, Hsbc Global Res raised Broadcom from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 24th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Broadcom has a consensus rating of "Buy" and a consensus target price of $356.48.

Insider Buying and Selling

In other Broadcom news, CFO Kirsten M. Spears sold 7,498 shares of the business's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the completion of the sale, the chief financial officer directly owned 313,330 shares in the company, valued at $108,932,307.80. The trade was a 2.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Henry Samueli sold 368,797 shares of the business's stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $337.91, for a total value of $124,620,194.27. Following the sale, the director owned 37,722,534 shares of the company's stock, valued at approximately $12,746,821,463.94. This represents a 0.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders purchased 3,550 shares of company stock worth $1,227,869 and sold 666,071 shares worth $225,623,008. Corporate insiders own 2.00% of the company's stock.

Broadcom Price Performance

NASDAQ AVGO opened at $334.53 on Monday. Broadcom Inc. has a one year low of $138.10 and a one year high of $374.23. The stock has a 50-day moving average of $313.66 and a 200 day moving average of $253.32. The company has a market capitalization of $1.58 trillion, a price-to-earnings ratio of 85.34, a PEG ratio of 1.85 and a beta of 1.16. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping the consensus estimate of $1.66 by $0.03. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The company had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. During the same period last year, the company earned $1.24 EPS. Broadcom's revenue for the quarter was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. On average, sell-side analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 22nd will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, September 22nd. Broadcom's dividend payout ratio (DPR) is presently 60.20%.

Broadcom Profile

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.

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